NEW YORK, OCTOBER 26, 2016 (CNBC): Consumers felt the economy will continue to expand but at a moderate pace, according to a monthly survey released Tuesday.

The Consumer Confidence Index hit 98.6 in October, down from 104.1 in September, according to data from The Conference Board on Tuesday.

Economists expected the index to hit 101.5 in October, according to a Thomson Reuters consensus estimate.

The survey, a closely followed barometer of consumer attitudes, measures confidence toward business conditions, short-term outlook, personal finances and jobs.

The report also said the Present Situation Index, which measures overall consumer sentiments toward the present economic situation, decreased to 120.6 from 127.9 in the prior month. The Expectations Index, which measures sentiments for the next 6-months, declined to 83.9 from 87.2 in September.

Source: CNBC